Indian market which remained in bear grip throughout the week saw some hefty selling on Friday after housing finance companies came under heavy sell-off which dampened the overall sentiments.
The market on Monday opened on weak note with Nifty and Sensex broke their crucial levels 11,500 and 38,000 respectively remained under pressure during the week. Both the major indices shed more than 3 percent amid rising trade war concern, depreciating rupee, rising crude oil prices, merger of 3 PSU banks and heavy selling in housing finance companies.
“Overall sentiments in the market have turned cautious and we feel that with rising bond yields interest rate sensitive stocks may come under pressure as their margins erode and cost of borrowing rises,” Hemang Jani, Head - Advisory, Sharekhan by BNP Paribas told Moneycontrol.
On Friday, Sensex saw an intraday swing of around 1500 points after housing finance company DHFL plunged as much as 60 percent during the day may be after selling of commercial papers worth about Rs 200-300 crore by DSP Mutual Fund recently.
Source- https://www.moneycontrol.com/
Good one! Thanks for sharing. By the way What's the benifit of investing in funds over the individual stocks and bonds?
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Sensitive Index
BSE Sensex